What is Quark (QRK) Crypto Beginner’s Guide
Quark is a cryptocurrency. It is traded on several exchanges including Cryptopia, Bittylicious, and FreiExchange. It is paired with BTC and GBP tokens. Quark (QRK) has a market capitalization of 2.2 million USD. Daily trading volume is about 540 USD. There are 256.1 million QRK tokens in circulation.
QRK Token Trading Trends
Since July 2017, there have been two significant spikes in value for Quark. Its value increased to 26 million USD before dropping significantly. The second spike propelled the value to 17 million USD. This occurred in January 2018. The tokens value declined to 1.5 million USD. It is slowly recovering. Currently, it is ranked 739th by market capitalization.
Quark – Block Explorer Description
There is a block explorer. It allows users to view transactions on the blockchain. It is well-designed. There’s a table that lists all the transactions. New transactions appear with a green flash. The text contrasts nicely with the background. There’s a search bar at the top of the page that allows users to search for transactions. Below this, there are vital specifications including the BTC price, USD price, market capitalization, known peers, difficulty rating, and available token supply.
In the list of transactions, the block height, age, number of tokens generated, the difficulty, and the extractor are displayed. There are several additional tabs, including a tab that provides a list of the richest addresses. The amount in each account is displayed.
Tokens are Stored in a Digital Wallet
There are several types of digital wallets for users. There’s a Windows wallet (32-bit and 64-bit) and a Mac OSX wallet. The source code is available at Github.
Proof-of-Stake and Proof-of-Work Combination
Quark was recently upgraded to a PoS/PoW hybrid system. Proof-of-Stake and Proof-of-Work are two validation methods for mining tokens. The Proof-of-Stake method prevents users from mining disproportionate amounts of blocks. This method is dependent on the amount of tokens a user holds. They will only be able to mine a certain amount of blocks (verifying transactions). This amount is dependent on the number of tokens they hold. If they hold 2% of available tokens, then they are limited to mining 2% of the blocks on the ledger.
Proof-of-Stake is an energy-efficient method of mining. The alternative verification method, Proof-of-Work, requires a lot of electricity to process a cryptocurrency transaction. This is equivalent to the amount of electricity required to power 1.57 American households for one day.
Proof-of-Stake is a secure mining method as well. Since the user has a stake in the network, it is unlikely that the user would attack the network (51% attack method). Their earnings would decline if that happened.
The Proof-of-Work method requires the requester to perform a task to ensure that it is a legitimate connection. This usually involves solving a puzzle. This prevents spam and hackers from infiltrating the network.
More Info on Quark (QRK)
Quark is one of the quicker cryptocurrencies. It has a block time of 30 seconds. Quark recently launched a new website.